DEALS & CASES | BANKING

Intertrust International Holding B.V and Fortis Nederland N.V.

Collas Day acted as Guernsey advisers to the Intertrust Group in relation to the entry into a multimillion multicurrency term and revolving facilities agreement between Intertrust International Holding B.V and Fortis Bank Nederland N.V. The purpose of the loan was to partially fund the acquisition by Waterland Private Equity Investments of the Intertrust Group. The matter involved a complex group structure with associated complexities with security related matters. Intertrust is a recognised quality leader in the Trust and Corporate Services domain, providing a broad range of commercial, legal, tax and administrative services to companies and high net worth individuals. Operating with 1,000 people from 27 offices in 20 countries, Intertrust combines a global reach with the local knowledge and cultural understanding to serve international clients from every corner of the world. Loyens & Loeff in the Netherlands were the legal advisers co-ordinating the transaction and we worked closely with them. Susan O'Leary associate ran the file. Ian Kirk was the supervising partner. Paul Wilkes and Wayne Atkinson senior associates worked on the file at various intervals.

Investec Bank (Channel Islands) Limited

Collas Day acted for Investec Bank (Channel Islands) Limited on the refinancing of McAulay (Market Buildings) Limited, developer and operator of the historic market buildings complex in St. Peter Port, Guernsey. The property developed by McAulay was subject to a long lease from the States of Guernsey, which created some challenges when structuring the security for the Bank's facilities.  The Bank was advised by the firm's banking and commercial property teams led by partners Sean Cheong and Chris Bound, with senior associate Wayne Atkinson managing the transaction.

Deutsche Hypo

Acted for Deutsche Hypo (acting through its London office) in relation a loan facility of up to £21,000,000.00 to be made available to a Guernsey subsidiary company within of a German real estate fund.  The loan was utilised to finance the purchase of a mid-sized retail park in England.

Weighbridge Trust

Acted for Weighbridge Trust in respect of a cross-border lending transaction involving Guernsey & BVI companies and a yacht registered in the BVI. In a coordinating role for the transaction, Collas Day arranged and liaised with BVI Counsel and the client including in respect of BVI security taken as part of the transaction.

Glanmore Property

Instructed by SJ Berwin, advised on the Guernsey law and security aspects for the refinancing of facilities in excess of £550m with the Royal Bank of Scotland PLC by one of Guernsey's largest property funds. The refinancing involved complex multi-jurisdictional elements.

Assura Group / National Australia Bank

Together with UK counsel, advised National Australia Bank on a £190m facility to Assura Group. This new facility replaces the securitisation facility entered into in March 2008. Assura Group Limited is a Guernsey company with a number of Guernsey subsidiaries.

Lombard North Central PLC

Acted for Lombard North Central PLC in structuring financing and guarantee arrangements provided to a prominent international business based out of Guernsey. The matter required an innovative, solutions based approach that will lead to efficiencies for both the lender and borrower.

Refinancing of complex marine finance

Acted for Royal Bank of Scotland International on a complex refinancing of a €25m marine finance facility. The transaction involved bespoke security and recourse provisions requiring detailed input from Collas Day.

Private Equity MBO

Together with Pinsent Masons, advised Lloyds TSB Bank plc in relation to the £11m refinancing of an MBO of one of the largest private equity administration businesses in Guernsey. The matter involved complex regulatory and security issues.

Royal Bank of Scotland International

Acted for Royal Bank of Scotland International in respect of the partial release of security over shares and land in Guernsey in the context of a wider financing and security package in respect of loans in the amount of £22m.